Glacier FarmMedia COVID-19 & the Farm

Globex ag, grains trading hit by technical problems

Chicago | Reuters — CME Group said technical issues had shut down contracts on its Globex electronic trading system Tuesday afternoon, with primarily agricultural and grains contracts affected and no impact on oil or metals.

Trading continued in the open outcry pits on the floor of the Chicago Board of Trade. Shutdowns on the electronic trading system are rare.

“We can confirm that we are experiencing technical issues … we are working to get this resolved,” CME spokesman Chris Grams said. CME listed the contracts affected on its website.

A trader on the floor said the market was “in a panic” due to the shutdown of the electronic system, which handles more than 90 per cent of the volume on a typical day.

— Reporting for Reuters by Mark Weinraub in Chicago.

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